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  #1  
Old 22nd November 2017, 08:10 PM
UselessBettor UselessBettor is offline
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Default The less greedy I am the more money I make

As most of you are aware I am a systems player. I have hundreds of profitable systems for betting, laying and trading on sports and racing. I don't use most of the systems because they do not meet my high standards.

One thing I commonly find myself being drawn into is trying to increase my profits with more selections. I do this only because I am greedy. I generally add them especially after I have had a surprisingly good run and Premium Charges are biting into the profit significantly. I reason with myself that if I can increase my turnover and profit with a few less quality systems then I will not have to pay as much premium charges.

So I add a few systems and they might go well for a month or two but then I hit the losing run for these systems and the fear hits of losing money.

Lately I have been sticking to my high quality systems which meet a very strict set of rules and I have been able to make so much more money. Yes the Premium charges are higher but so is my confidence and my bank balance. If my bank balance is higher I can stake a higher amount (on some sports) and my profit increases and this in turn boosts my confidence even more.

Gambling is a confidence game. If you have high spirits and are winning money consistently then you will start to compound your profits. If your treading water or having large drawdowns your confidence will be low meaning a larger bank size required to handle those bad times. This reduces the compounding effect and you make money slower which hurts the confidence.

Fear and greed ... they rule the stockmarket and the rule gambling as well. Those who can control greed and fear are destined to make large profits (6-7 figures a year). I am getting there but I still lapse into the trap. Each year I am getting better and each year my profits are growing.

Once you can find profitable edges (they are everywhere) then being profitable isn't the problem. Its being able to handle the swings and roundabouts thrown by the randomness of the results even with an edge.

Anyway these are just the ramblings of a successful gambling fool trying to keep some sort of disciplined approach.
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  #2  
Old 22nd November 2017, 10:28 PM
Shaun Shaun is offline
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I always find your posts of interest, you have found what works for you, as you say there are ups and downs and having a few diffetent types of systems running at once would even thngs out.
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  #3  
Old 23rd November 2017, 10:43 AM
darkydog2002 darkydog2002 is offline
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Smile

Absolutely agree.

Fear, Greed and a lack of a disciplined Staking approach are the main offenders.

Cheers.
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  #4  
Old 23rd November 2017, 07:10 PM
UselessBettor UselessBettor is offline
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Quote:
Originally Posted by Shaun
I always find your posts of interest, you have found what works for you, as you say there are ups and downs and having a few diffetent types of systems running at once would even thngs out.


You would think that. But having lots of systems tends to double up the selections quite a lot. If you based bet is $100 and you have 35 systems select it then you are up for a 3.5K bet as I believe each system should have all its selections bet.

These can skew the results sometimes when a monster bet loses and you have to start the long road to recovery. Hitting those bad losers only happens about once or twice a year now.

I have got it down to a fine art on adding new systems into the program. I look t the beta of the new system to other systems and will not touch any which have too many similar selections.
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  #5  
Old 23rd November 2017, 07:11 PM
UselessBettor UselessBettor is offline
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Quote:
Originally Posted by darkydog2002
Absolutely agree.

Fear, Greed and a lack of a disciplined Staking approach are the main offenders.

Cheers.


discipline is the only way to beat that greed and fear
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  #6  
Old 24th November 2017, 08:10 AM
Mark Mark is offline
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Although I am extremely disciplined, sometimes overly, I find I work the opposite way. Once I find an advantage, common sense, not greed takes over, and I mine it for all I can.
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  #7  
Old 25th November 2017, 08:59 AM
Lord Greystoke Lord Greystoke is offline
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Quote:
Originally Posted by UselessBettor
Once you can find profitable edges (they are everywhere) then being profitable isn't the problem. Its being able to handle the swings and roundabouts thrown by the randomness of the results even with an edge.



Never a truer word spoken UB. If I could code like you I would be DANGEROUS. I have the mind and hunger but no idea on where to start?!

Cheers LG
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  #8  
Old 25th November 2017, 09:11 AM
UselessBettor UselessBettor is offline
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Quote:
Originally Posted by Lord Greystoke
Never a truer word spoken UB. If I could code like you I would be DANGEROUS. I have the mind and hunger but no idea on where to start?!

Cheers LG


Coding isn't too hard. Watch a Youtube course, do a Udemy course. Take a local TAFE course if you want hands on help.

Its about getting started and doing a little bit each day and learning it.

My 10 year old has learnt to code this year at school and althought its not her passion she gets in and creates a few simple apps and games for fun with her friends.

If a 10 year old can learn you can learn too.
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  #9  
Old 25th November 2017, 09:16 AM
Lord Greystoke Lord Greystoke is offline
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Quote:
Originally Posted by UselessBettor
Coding isn't too hard. Watch a Youtube course, do a Udemy course. Take a local TAFE course if you want hands on help.

Its about getting started and doing a little bit each day and learning it.

My 10 year old has learnt to code this year at school and althought its not her passion she gets in and creates a few simple apps and games for fun with her friends.

If a 10 year old can learn you can learn too.


Nice one UB. Thank you.

Cheers LG
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  #10  
Old 25th November 2017, 02:07 PM
Shaun Shaun is offline
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Quote:
Originally Posted by UselessBettor
Coding isn't too hard. Watch a Youtube course, do a Udemy course. Take a local TAFE course if you want hands on help.

Its about getting started and doing a little bit each day and learning it.

My 10 year old has learnt to code this year at school and althought its not her passion she gets in and creates a few simple apps and games for fun with her friends.

If a 10 year old can learn you can learn too.


I have spent the last 10 years playing with vba and excl and can honestly say i don't understand all that much but can make it do what i want, it does have limitations or maye they are mine, i have thought about learning python as i have heard it is the easiest, jus havent brought myself to sit and find the best videos.
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"If you need them , you will soon find out."
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